These 5 Austin Companies Raised a Combined $173M in October

Find out how the companies that raised last month’s largest rounds plan to invest the fresh capital.

Written by Ashley Bowden
Published on Nov. 01, 2023
These 5 Austin Companies Raised a Combined $173M in October
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Defense technology appears to be the leading area of interest for venture capital investors on the Austin tech scene. Last month, the two largest funding rounds went to local tech companies operating in the defense space. Learn how these companies are fueling growth, and what other areas got fresh investments.

Top Austin Tech Funding Rounds, October 2023

  1. Mach Industries
  2. Saronic
  3. AI Clearing
  4. aifleet
  5. Scorability

     

    #4. $11 million, October 17

    Aiming to make the process of matching athletes to collegiate sports programs more efficient, Scorability secured a round of seed funding from investors including Next Coast Ventures and Silverton Partners. The capital will help expand Scorability’s team, as well as fuel technology developments and go-to-market initiatives.

     

    #3. (tied) $14 million, October 10 

    Ibex Investors led a $14 million round of funding for aifleet, a technology-enabled trucking company that works to lessen emissions and make ground shipping more efficient. The company’s solution has the ability to assess a large pool of freight and plot the most optimal route. This latest round of funding brings aifleet’s total venture capital to $35 million.

     

    #3. (tied) $14 million, October 2 

    AI Clearing is a platform offering autonomous progress tracking and quality control for the construction industry. The company announced a $14 million Series A funding round led by Prudence in early October that it plans to put toward expanding its sales and client success teams across the U.S., Western Europe and the Gulf region.

     

    #2. $55 million, October 9

    Backed by a $55 million round of Series A funding, defense tech company Saronic plans to fuel research and development and grow its manufacturing capacity. The company develops autonomous surface vessels for navigating maritime environments and carrying different kinds of payloads. Caffeinated Capital led Saronic’s latest round.

     

    #1. $79 million, October 4

    Operating in the defense sector, Mach Industries develops hydrogen-powered generation systems and military munitions such as autonomous aerial vehicles. The company raised  Series A capital from lead investor Bedrock Capital to build defense hardware. The funding round brought Mach Industries’ valuation to $335 million.

    Methodology: Built In tracked the largest funding rounds of the month using previous reporting, data from Crunchbase and articles from other publications and companies. This list highlights the five largest funding rounds raised in October by tech companies with a headquarters in Austin. We only include venture capital and equity raises and do not include debt or post-IPO funding rounds in this list.

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